Textured paint is fine for walls, Only be really sure this is what look your going for. Typical textured paint contains sandy material. As its rolled on it leaves a bumpy surface. Other textured paints are really thick and applying them requires a special roller to provide the lift on the surface to obtain the amount of texture your looking for.
While these products work well and do as they claim, They are a real dog to remove if you do not like the final outcome. I would think hard about this way of texture. Or at least do a large sample board and see if the final result is exactly what your going for.
A preferred method of texture is to do this with spackle and a texture sprayer. The spackle is thinned out and then sprayed onto the surface of the wall. Then depending upon the amount of texture you want it is "knocked down" as it dries with a large flat trowel to soften the appearance. Once that has dried a thick nap roller or spray unit is used to apply the finish coat on the walls. Removal of this is also difficult however a skim coat of additional spackle or a good quality sanding system will make short order of this type of coating.
The last method is to use a textured wall paper that is designed to take paint. These papers come in all sorts of patterns from flowers to sandy type surfaces and many to mimic the knocked down plaster look. You may want to look into these. They work best for the DIY person then the other methods.
Hope this helps.
You can find textured wall paper at Home Depot. You put it on and paint over it, Now you have a perfect even texture on the wall in the color you want and it hides all the nasty pin holes, stains or anything else you want to make vanish